Greenfern Industries Limited is pleased to announce the results of its first annual report as a listed company.
The report demonstrates the company's progress in achieving the listing plan set out, including GACP certification, entry into an offtake agreement of medical cannabis flower product and the establishment of a power JV.
The offtake agreement with Ampyl Sciences Limited enables the buyer to purchase up to 300kg per annum of medical cannabis flower, with GFI's existing facilities having the capacity to produce 120kg per annum, increasing to 600kg per annum with the completion of stage 2.
To fund these initiatives, the company is progressing with plans to seek further equity raising.
Additionally, the company has entered into a non-material related party transaction with CFS Debt Fund L.P. for a line of credit loan of up to NZD$600,000.
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